Antelope Enterprise Subsidiary Kylin Cloud Enters into Service Contract with AI Enterprise

JINJIANG,China,Nov. 9,2022 --Antelope Enterprise Holdings Limited (NASDAQ Capital Market: AEHL) ("Antelope Enterprise" or the "Company"),which engages in management and business consulting,and online social commerce and live streaming,and is a manufacturer of ceramic tiles used in residential and commercial buildings in China,announced today its 51% owned subsidiary,Hainan Kylin Cloud Services Technology Co.,Ltd ("Kylin Cloud"),has entered into a Service Agreement Contract (the "Service Contract") with Anhui Zhongzhou Innovation Industry Technology Co.,Ltd. ("Anhui Zhongzhou") to utilize its SaaS platform to help Anhui Zhongzhou recruitpersonnel for its artificial intelligence (AI) data services business. The one-year contract expires on October 16,2023,and can be renewed thereafter.

Ms. Meishuang Huang,Chief Executive Officer of Antelope Enterprise,commented,"We are pleased that Kylin Cloud has entered into an agreement to deploy its leading-edge online social commerce platform to help Anhui Zhongzhou meet their technical staffing needs. Kylin Cloud's SaaS system efficiently and effectively addresses human resource needs with its access to a broad and deep recruitment pool. We believe that Kylin Cloud is uniquely positioned in the fluid part-time and contactor employment sector in China to add substantial value in addressing their clients' employment needs."

The Service Contract stipulates that Kylin Cloud will recruit part-time personnel for Anhui Zhongzhouto help in their business development associated with data collection,data labelling and data annotation services for AI and machine learning for their clients. Kylin Cloud will utilize its SaaS platform that encompasses live broadcast,streaming media and content services to screen for personnel that match the required professional skills and experience needed by Anhui Zhongzhou,referring such personnel to them for their consideration. Many of these technical positions are linked via Kylin Cloud's platform to WeChat Moments,WeChat groups,QQ groups,Weibo,etc.,where Anhui Zhongzhou can hold introductory meetings and group chats. Anhui Zhongzhou will pay Kylin Cloud a management service fee and a performance fee based on employment metrics.

Kylin Cloud is a relatively new operating subsidiary of Antelope Enterprise and integral to its strategic plan to diversify into new technology sectors to mitigate the challenging market conditions of its ceramic tile segment due to the slowdown of the real estate sector in China. Antelope Enterprise's new subsidiaries,Chengdu Future Talented Management,Antelope Holdings (Chengdu) Co.,Ltd and Kylin Cloud,are engaged in selected markets in China and their operations encompass business management,information system consulting,and online social commerce and live streaming.

About Anhui Zhongzhou Innovation Industry Technology Co.,Ltd.

Anhui Zhongzhou Innovation Industry Technology Co.,Ltd. provides high-quality,efficient and secure artificial intelligence data services involving data design,data collection,data cleaning,data labeling and data quality inspection services for various industries including global high-tech,automotive,consumer electronics,e-commerce,financial services,medical and health care,and scientific research institutions.

About Antelope Enterprise Holdings Limited

Antelope Enterprise Holdings Limited engages in business management,information systems consulting,SaaS (software as a service) and PaaS (platform as a service) systems platforms,and online social commerce and live streaming in China. The Company is also a manufacturer of ceramic tiles in China which are used for exterior siding,interior flooring,and design in residential and commercial buildings,and sold under the "Hengda" or "HD" brandFor more information,please visit http://www.aehltd.com.

Safe Harbor Statement

Certain of the statements made in this press release are "forward-looking statements" within the meaning and protections of Section 27A of the Securities Act of 1933,as amended,and Section 21E of the Securities Exchange Act of 1934,as amended. Forward-looking statements include statements with respect to our beliefs,plans,objectives,goals,expectations,anticipations,assumptions,estimates,intentions,and future performance,and involve known and unknown risks,uncertainties and other factors,which may be beyond our control,and which may cause the actual results,performance,capital,ownership or achievements of the Company to be materially different from future results,performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements in this press release include,without limitation,the continued stable macroeconomic environment in the PRC,the PRC real estate,construction and technology sectors continuing to exhibit sound long-term fundamentals,our ability to bring additional ceramic tile production capacity online going forward as our business improves,our ceramic tile customers continuing to adjust to our product price increases,our ability to sustain our average selling price increases and to continue to build volume in the quarters ahead,and whether our enhanced marketing efforts will help to produce wider customer acceptance of the new price points; and our ability to continue to grow our business management,and online social commerce and live streaming business. All statements other than statements of historical fact are statements that could be forward-looking statements. You can identify these forward-looking statements through our use of words such as "may," "will," "anticipate," "assume," "should," "indicate," "would," "believe," "contemplate," "expect," "estimate," "continue," "plan," "point to," "project," "could," "intend," "target" and other similar words and expressions of the future.

All written or oral forward-looking statements attributable to us are expressly qualified in their entirety by this cautionary notice,including,those risks and uncertainties described in our annual report on Form 20-F for the year ended December 31,2021 and otherwise in our SEC reports and filings. Such reports are available upon request from the Company,or from the Securities and Exchange Commission,including through the SEC's Internet website at http://www.sec.gov. We have no obligation and do not undertake to update,revise or correct any of the forward-looking statements after the date hereof,or after the respective dates on which any such statements otherwise are made.

View original content:https://www.prnewswire.com/news-releases/antelope-enterprise-subsidiary-kylin-cloud-enters-into-service-contract-with-ai-enterprise-301672480.html